It’s open source software that lets you read epubs and cbz files natively without conversions, bypass Amazon’s “Send to Kindle” feature, and came at a time when Amazon was removing books from people’s devices. Koreader also has Calibre plugin support to transfer books that way as well (though this isn’t something I haven’t set up just yet).
Overall it provides a bit more granular control over your devices if you like to tinker, and provides an extended lifeline for devices Amazon may have stopped supporting.